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Italy aware of investment scope in Pakistan

ISLAMABAD: Italian Deputy Minister for Economic Development Ivan Scalfarotto has called for establishing an inter-governmental framework to boost trade relations between Italy and Pakistan.

Speaking at the Italy-Pakistan Trade and Business Investment on Tuesday, he said Italian investors are well aware of the investment scope and potential in Pakistan.

The Board of Investment and the Italian Embassy jointly organised the Pakistan-Italy Investment Forum.

He said the huge Chinese investment in Pakistan and Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline will play a vital role in the economic development of Pakistan and the region.

He said the exchange of business delegations between the two countries should be increased to improve bilateral trade. Fifty businessmen accompanied the Italian minister during his two-day visit to Pakistan.

Mr Scalfarotto said Italy is willing to meet energy requirements of Pakistan.

Addressing the forum, Minister for Water and Power Khawaja Muhammad Asif said Pakistan has enormous resource potential for both renewable and non-renewable forms of energy.

He said Pakistan has 105 trillion cubic feet of shale gas reserves while 9 billion barrels of shale oil reserves are yet to be tapped. Furthermore, Pakistan is fortunate to have 185bn tonnes of coal reserves, which can be used for power generation as well as diesel production, he added.

Earlier, Board of Investment Chairman Miftah Ismail asked Italian investors to set up Italy-specific special economic zones in Pakistan. “It is high time Italian companies explored Pakistan for investment and joint ventures in the areas of mutual interest. We see a lot of opportunities for the Italian private sector, particularly in the energy, infrastructure, automobile, agro-food, pharmaceuticals, marble and stones and textile sectors,” Mr Ismail said.

Courtesy : Dawn News

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